Picture: Wilson Ring/Zoom via AP
Picture: Wilson Ring/Zoom via AP

Zoom announces billion-dollar deal

By Bang Showbiz Time of article published Jul 26, 2021

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Zoom has announced a $14.7 billion (£10.7b) deal to buy a cloud-based call centre operator.

The video conferencing firm is hedging its bets on the future of hybrid working and it has confirmed an agreement to acquire company Five9, which will allow customers to "reimagine the way they do business".

In a blog post, Zoom CEO Eric Yuan wrote: "We continuously look for ways to enhance our platform, and the addition of Five9 is a natural fit that will deliver even more happiness and value to our customers.

"We expect that this acquisition will help enhance Zoom’s presence with customers and allow us to accelerate our long-term growth opportunity by adding the $24 billion contact centre market.

"Five9 is a pioneer of cloud-based contact center software.

"Its highly-scalable and secure cloud contact center delivers a comprehensive suite of easy-to-use applications that allows management and optimization of customer interactions across many different channels."

And Rowan Trollope, Chief Executive Officer of Five9, added in a press release: "It has always been Five9’s mission to make it easy for businesses to fix that problem and engage with their customers in a more meaningful and efficient way.

"Joining forces with Zoom will provide Five9’s business customers access to best-of-breed solutions, particularly Zoom Phone, that will enable them to realize more value and deliver real results for their business.

"This, combined with Zoom’s ‘ease-of use’ philosophy and broad communication portfolio, will truly enable customers to engage via their preferred channel of choice.”

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